Jeff Bezos Overtakes Elon Musk As World’s Second-Wealthiest Person For Fourth Time In Recent Weeks
Bezos’ estimated net worth was up about $1.3 billion on Tuesday afternoon, while Musk’s fortune had fallen about $1.2 billion, according to the Forbes Real-Time Billionaire List.
Forbes estimates Bezos to be worth about $194.1 billion as of 2 p.m. EDT on Tuesday, and we estimate Musk to be worth about $193 billion.
The wealthiest person in the world, per Forbes’ list, is still LVMH’s Bernard Arnault, who was worth an estimated $235.3 billion as of Tuesday afternoon.
NEWS PEG
Musk’s fall to third-wealthiest came just one day after he regained his position as the second-wealthiest person due to an increase in Tesla’s stock price. On Monday, news broke of a price bump for Tesla’s Model Y electric vehicle in some areas, leading Tesla’s stock to rise more than 5%, marking its biggest single-day percentage jump since Nov. 14, 2023.
BIG NUMBER
0.59%. That’s how much Amazon’s stock was up Tuesday afternoon. In comparison, Tesla’s stock price reversed course and had fallen 1.38% to about $171.41 per share.
KEY BACKGROUND
Since the start of March, Musk and Bezos have repeatedly yo-yoed in the wealth rankings, the latest instance of which was last week when Tesla shares dropped to a fresh 10-month low after Wells Fargo analysts called Musk’s electric vehicle company a “growth company with no growth.” About two-thirds of Musk’s fortune comes from his stake in Tesla, while about 85% of Bezos’ wealth stems from his 10% stake in Amazon, Forbes estimated in September.
When Bezos overtook Musk for the first time this year on March 6, it was the first time since Aug. 19, 2021 that Musk fell outside of the top two in Forbes’ real-time billionaire rankings.
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